Karyopharm eyes "transformative" 2026 with imminent Phase 3 data readouts

Karyopharm Therapeutics (NASDAQ:KPTI) is entering a pivotal year for its oncology pipeline, with the company forecasting a duo of high-stakes clinical trial readouts that could redefine its market position as its current cash runway nears its end.

The Newton, Massachusetts-based biotech expects preliminary full-year 2025 total revenue to reach approximately $145 million, primarily anchored by $115 million in U.S. sales of its flagship multiple myeloma drug, XPOVIO.

While commercial demand remained steady throughout the year, the market’s focus has shifted toward Karyopharm’s late-stage development programs.

The company's top priority for 2026 is the SENTRY trial in myelofibrosis, which completed enrollment of 353 patients in late 2025.

Top-line data for the Phase 3 study, evaluating selinexor in combination with ruxolitinib, is expected in March 2026.

Management believes a positive result could unlock a "multi-billion dollar" opportunity in the front-line myelofibrosis market.

A second major catalyst follows in mid-2026 with data from the XPORT-EC-042 trial in endometrial cancer.

However, despite the clinical momentum, Karyopharm faces a tight financial window.

The company ended 2025 with approximately $64 million in liquidity, a balance bolstered by recent strategic financings but only expected to fund operations into the second quarter of 2026.

This timeline places the company in a high-pressure "binary" position, where its ability to secure further capital likely hinges on the success of the March data readout.